Short Stops - #24: The Art of Selling (Why is it so hard to let go?)
Hosted by Edmund Lee, President & CEO of the Caylum Trading Institute, Short Stops is your weekly stock market update featuring the top trading news, tips and stock picks in Metro Manila and around the world. "When you're unprepared to sell this is what happens: you cut loss too soon because you're scared, then you regret it so you buy it back when it rallies only for you to sell it again when it shows signs of volatility. You do this once, twice, thrice and then when it finally makes that money-making surge - you're no longer there to take part in it." Most novice traders spend more time preparing an execution plan to buy into a position without thinking about when to sell. Chad Pacheco & Ernest Buhangin, two senior proprietary traders in charge of training our junior recruits, are here to share why they believe the act of selling is the most difficult aspect of any trade. - How emotions play with our ability to take profit or to cut loss - All the reasons we tell ourselves as an excuse not to sell and the drawdowns that are a result - The valuable option to sell half - Developing an exit strategy: How to use price stops and time stops as safety nets Get your next trading insight and find your baggers right here on Short Stops. Powered by the Caylum Trading Institute. www.cayluminstitute.com -- Record Date: SEPTEMBER 20, 2018 Introduction Music: (credits to)Vodovoz Music Productions on YouTube